What Coro Energy PLC does

Coro Energy PLC is an AIM-listed (LSE:CORO) clean energy company headquartered in Watford, United Kingdom, pursuing a low-carbon energy strategy across Southeast Asian markets. The company's portfolio comprises three principal lines: (1) a Vietnamese commercial and industrial (C&I) rooftop solar portfolio with 3 MW currently in production and a contracted 1.6 MW project underway with co-development partner An Viet Phat Group, expandable to 10 MW; (2) a planned Philippines utility-scale wind and solar pipeline targeting 100 MW per project across four projects; and (3) a 15% non-operated participating interest in the Mako gas project in Indonesia's West Natuna Sea, operated by West Natuna Exploration Limited (a Conrad Asia Energy subsidiary), which reached final investment decision in March 2026 with first gas targeted for Q4 2027 at a design capacity of 172 mmscfd and an estimated total capex of $320 million.

The business model is asset-based and project-financed. Revenue is intended to be generated through long-term power purchase agreements selling electricity from rooftop solar installations to C&I customers in Vietnam, supplemented by transaction-based revenue from the Mako gas interest once production begins. The go-to-market relies on co-development partnerships (e.g., An Viet Phat Group) for project origination and on senior secured debt facilities — including a $20 million facility approved in April 2026 from a global sustainable infrastructure investor — alongside periodic equity placings (a £1 million placing completed in January 2026 at 4 pence per share) to fund capital expenditure and working capital. The company is led by Chairman James Parsons, has 11-50 employees, and had a market capitalization of approximately £3.55 million as of March 2026.

Name

Coro Energy PLC

Legal name

Coro Energy PLC

Website

https://coroenergyplc.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Coro Energy PLC is an AIM-listed clean energy company developing Vietnamese C&I rooftop solar and planned Philippine utility-scale renewables, and holding a 15% non-operated interest in the Mako gas project in Indonesia.

Ownership category

akta.pro rank

Product category

Clean Energy / Renewable Energy Generation

NAICS

Solar Electric Power Generation (221114), Wind Electric Power Generation (221115), Electric Power Generation (22111)

SIC

Crude Petroleum & Natural Gas (1311), Electric, Gas & Sanitary Services (4900), Cogeneration Services & Small Power Producers (4991)

akta.pro primary industry

Solar EPC & Construction (Utility-Scale, Rooftop, Balance of System) (EUAMABAB)

akta.pro secondary industries

Renewable Energy Asset O&M (Wind, Solar, Hydro, Geothermal) (EUAEAGAB), Distributed & Commercial Renewable O&M (Rooftop Solar, C&I Wind, Small Hydro) (EUAMAGAB), Solar Balance-of-Plant EPC (Piles/Foundations, Trenching, Combiner Networks) (EUAEADAJ), Wind Power Plant EPC (Onshore/Offshore) (EUAEAAAF), Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB)

Keywords

• Rooftop solar energy
• Clean energy development
• Utility scale wind
• Natural gas exploration
• Commercial solar solutions

Headquarters

HQ city

Watford

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Technology or R&D, Personnel, Others

Revenue model

1. Solar Energy Generation: Development and operation of rooftop solar projects generating electricity for sale to commercial and industrial customers under long-term power purchase agreements.
2. Natural Gas Interest: 15% participating interest in the Mako gas project in West Natuna Sea, Indonesia, operated by West Natuna Exploration Limited (WNEL), targeting first gas in Q4 2027.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Coro Energy PLC is a South East Asia focused clean energy company that develops and operates commercial and industrial (C&I) rooftop solar projects in Vietnam (3 MW currently in production), targets utility scale wind and solar projects of 100 MW each in the Philippines, and holds a 15% participating interest in the Mako natural gas field in Indonesia's West Natuna Sea. The company generates revenue primarily through long-term power purchase agreements with C&I customers and gas production interests.

Product overview

Coro Energy PLC is a single unified clean energy platform focused on South East Asia, comprising two main product lines: a rapidly growing high margin Vietnamese C&I rooftop solar portfolio (currently 3MW in production) and Philippine utility scale wind and solar projects (targeting 100MW per project, with a goal of 4 projects). The company is pursuing a low carbon energy strategy in the fast growing economies of South East Asia.

Differentiator

Problem solved

Functional benefit

Products and services

• Vietnam Rooftop Solar A rapidly growing high margin commercial and industrial (C&I) rooftop solar portfolio in Vietnam, currently with 3 MW in production. Provides clean electricity generation to commercial and industrial businesses seeking to reduce electricity costs and meet sustainability targets.
• Philippines Solar & Wind

Quantifiable outcome

• 152% electricity demand forecast increase by 2050 in South East Asia
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• An Viet Phat GroupcoreStrategic or Co-development Partner · 7 April 2026Long-term agreement for 1.6 MW rooftop solar project in Vietnam, with potential expansion to 10 MW if further discussions are successful. The project supports Vietnam's clean energy transition.
• West Natuna Exploration Limited (WNEL)coreStrategic or Co-development Partner · 1 March 2026Coro Energy holds 15% participating interest in the Mako gas project in the West Natuna Sea, Indonesia, operated by WNEL (76.5% stake). Project achieved final investment decision in March 2026 with first gas targeted for Q4 2027. Total project capex estimated at $320 million.

Scale indicators9 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• GreenYellow: TotalEnergies-owned energy efficiency and distributed solar specialist active across Southeast Asia, including Vietnam C&I rooftop solar market. Direct competitor for the same C&I rooftop solar customers and PPAs Coro targets.
• CWP Global: Independent renewable energy developer focused on Southeast Asian markets, particularly Vietnam, with utility-scale wind and solar project origination capabilities — directly comparable to Coro's SE Asia C&I/utility-scale platform strategy.
• Conrad Asia Energy: Australia-listed SE Asia-focused upstream gas company whose subsidiary WNEL operates the Mako gas project where Coro holds 15% interest. Operates in the same Indonesian gas asset and pursues a similar SE Asia upstream/clean energy strategy.
• Empyrean Energy: AIM-listed (EME) upstream oil and gas company and direct Mako project partner holding 8.5% participating interest. Closest UK-listed micro-cap peer with overlapping SE Asia gas exposure and similar capital-constrained growth profile.

Broad incumbents

• Ørsted (Offshore Wind): Global leader in offshore wind and utility-scale renewables with growing Asia-Pacific presence. Provides a benchmark for how a utility-scale renewable developer can scale project development — useful reference for Coro's longer-term ambition to develop 100 MW Philippines projects.
• Scatec ASA: Norway-listed renewable energy developer focused on emerging market solar, wind, and storage projects. Comparable business model of project development in growth markets with debt-funded project finance — relevant proxy for how Coro's debt-led platform could scale.
• Sembcorp Industries (Sunseap): Singapore-listed energy and urban solutions group with SE Asia distributed solar (via Sunseap acquisition) operating alongside utility-scale generation. Comparable to Coro's multi-technology, multi-country SE Asia positioning but at vastly larger scale.
• EDP Renováveis: Global renewable energy developer with Asia-Pacific operations including utility-scale solar and wind development; comparable in pursuing wind/solar mixed portfolios across multiple markets, though at much greater scale than Coro.

Regional players

• AC Energy (Ayala Corporation): Philippines-listed renewable energy developer pursuing utility-scale solar and wind projects in the Philippines market where Coro is also targeting 100 MW utility-scale projects. Directly comparable Philippines renewable pipeline competitor.

Emerging players

• Constant Energy: Regional C&I rooftop solar developer with operational presence in Thailand, Vietnam, and Cambodia. Directly addresses the same C&I rooftop solar PPAs Coro targets across SE Asia.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xtwitter.com/coroenergy?lang=en
• LinkedInlinkedin.com/company/coroenergy-plc

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Coro Energy PLC